Oakville
Having been established in 1857, Oakville is a historic downtown lakeside city located in Southern Ontario within the Greater Toronto Area near Lake Ontario. With a population of over 200,000 people (most of them working class), Oakville has a thriving diverse community making it one of the fastest-growing suburbs in Toronto.
Oakville boasts of one of the diverse populations and it’s committed to implementing its Diversity and Inclusion Action Plan whose main objective is to create a community that gives everyone a sense of belonging. The town has a total of six divisions which are home to its twelve neighborhoods. If you want to invest in Oakville real estate, there are plenty of pre-construction condos for sale that you can grab. The North Oakville Plan was initiated to build new communities that feature both residential and commercial opportunities, eco-friendly green spaces, and modern transit systems.
Why buy pre-construction condos in Oakville?
Oakville city presents a myriad of real estate investment opportunities that one can invest in including pre-construction condos. A diverse community of welcoming population makes it easy for new investors and homebuyers to invest or move to Oakville.
There are modern amenities such as schools, shopping stores, waterfront parks, entertainment joints, recreational areas, restaurants, walking trails, and good transport systems that play a big role in offering residents a high living standard and a modern lifestyle.
Location is another factor that investors consider when investing in real estate. Oakville is strategically located in close proximity to Toronto and the USA making it easily accessible by all methods of transportation.
Pre-construction condos in Oakville are in high demand as the city offers many employment opportunities while at the same time guaranteeing a favorable environment where people can work and live. Investors looking for pre-construction condos in Oakville are assured of better returns on investment as the city continues to experience growth and the future looks promising.
Condo prices in Oakville
The Oakville housing market is competitive and the demand for pre-construction condos in Oakville city has been on the rise. The average rental rate for condos has increased by 3.2% from the previous year to reach $2,800. The average vacancy rate for condos in Oakville is below 2.5%.
Pre-construction homes in Oakville are commanding an average price per square foot of $840 with a positive average appreciation rate of 5.5%. The average price for pre-construction condos in Oakville is about $691,791.
Average prices of other types of homes in Oakville
The average sale price for a home in Oakville was $325,000 in August 2022. The average sale price per square meter for homes in Oakville has increased to $186 which represents a 6.6% increase compared to what was recorded last year. The average days that homes stay on the market in Oakville is 49 days which is an improvement from 54 days recorded last year.
Employment opportunities in Oakville
Oakville city has many employment opportunities and a skilled workforce that work either in Digital Media, ICT, Manufacturing, Finance, and Life Sciences. There are over 2600 financial services companies in Oakville offering employment opportunities to over 25,000 people. Some of the popular financial service companies in Oakville include PwC, Canadian Tire, and Siemens Canada.
Major employers in the digital media space in Oakville are Rockstar Games Toronto and the Weather Network. If you are looking for an employment opportunity in the energy, aerospace, and automotive sectors of advanced manufacturing, you can secure a job in any of over 300 companies within this manufacturing sector. Some of the major advanced manufacturing companies include; Collins Aerospace, Ford Motor Company of Canada, and Dana Corporation.
Oakville city amenities
Oakville is strategically located next to Lake Ontario thus, giving it a unique natural environment. There are modern amenities that make Oakville one of the best cities in the GTA that provides a high standard of life to its inhabitants.
There are plenty of family-friendly recreational parks and walking trails where visitors can go and relax together with their families. Some of the most popular ones include; Coronation Park, Lion’s Valley Park, Bronte Creek Provincial Park, and Gairloch Gardens.
For all your shopping needs, there are many shopping malls that you can visit and you will get everything that you need. You can do your shopping on Lakeshore Road East or in shopping malls such as South Oakville Center, Upper Oakville Shopping Center, and Oakville place.There are plenty of restaurants and entertainment joints where you can enjoy delicious meals and have some fun.
Oakville is also a great city to raise a family as there are many top-performing elementary and district schools. For college students, Sheridan College is a great choice as it offers a wide variety of programs. Purchasing a pre-construction condo in Oakville will guarantee a high-quality lifestyle in a city that is safe to live, work, and raise a family.
Transportation in Oakville is simplified to make the city easily accessible to both residents and visitors. One can easily travel to any part of the city and the Greater Toronto Area through Oakville Transit, Go Transit’s Lakeshore West Line, Highway 403/Queen Elizabeth Way, and Highway 407 along the northern side of Oakville city.
Neighborhoods in Oakville
Oakville presents a total of 12 different neighborhoods where one can choose to live. Each neighborhood has its own unique amenities and lifestyle experience. When planning to purchase pre-construction condos in Oakville, some of the most popular neighborhoods in Oakville city that you should consider include Bronte Village, River Oaks, Old Oakville, Gren Abby, Uptown Core, and Southwest Oakville.
In most of these neighborhoods, you will find a mix of single-family, townhouses, ready-to-occupy condominiums, and pre-construction condos. If you are looking for a neighborhood that will provide you with an urban atmosphere, Uptown Core is the perfect deal. There are many shopping malls and entertainment joints. Uptown Center is easily accessible from any part of the Greater Toronto Area.
If you want to purchase a pre-construction condo in Oakville in a quiet environment, then the River Oaks neighborhood should be one of your top considerations. Old Oakville and Bronte Village neighborhoods are great for buyers looking for newer high-rise condominiums, townhouses, and pre-construction condos.
All these neighborhoods have easy access to the highway, therefore, making it easy to commute to any part of the Greater Toronto Area (GTA).
